20th Sep 2018 10:32
LONDON (Alliance News) - Shares in Adept4 PLC surged on Thursday after the company said it settled its legal dispute with Adept4 Managed IT Ltd vendors, without having to pay.
Shares in the IT services provider were trading 34% higher at 1.94 pence each on the back of the news.
Under the terms of the agreement, Adept4 will not have to pay the GBP1 million deferred consideration or the GBP1.5 million contingent consideration.
Furthermore, the vendors have agreed to pay a cash sum to Adept4 in November which will result in a "small cash inflow to the company", Adept said.
Related Shares:
AD4.L